Welcome to our dedicated page for Hormel Foods news (Ticker: HRL), a resource for investors and traders seeking the latest updates and insights on Hormel Foods stock.
Hormel Foods Corporation (NYSE: HRL) is a Fortune 500 global branded food company based in Austin, Minnesota, known for protein-centric foods sold under brands such as PLANTERS®, SKIPPY®, SPAM®, HORMEL® NATURAL CHOICE®, APPLEGATE®, WHOLLY®, HORMEL® BLACK LABEL®, COLUMBUS® and JENNIE-O®. The Hormel Foods news stream covers developments that affect its brand portfolio, financial performance and corporate strategy.
Investors and followers of HRL can use this page to monitor earnings announcements and outlook updates, including quarterly and full-year results, segment performance in Retail, Foodservice and International, and commentary on margins, input costs and strategic initiatives like the Transform and Modernize (T&M) program. Regulatory disclosures about restructuring plans, role reductions and other cost actions are also reflected in company news and related Form 8‑K filings.
News from Hormel Foods frequently highlights brand and product activity, such as new offerings from the HORMEL® MARY KITCHEN® brand, collaborations for SKIPPY® products with partners like Milk Bar®, and experiential marketing programs for the PLANTERS® brand, including the NUTmobile and Peanutter ambassador roles. These stories provide insight into how the company supports its brands, engages consumers and responds to demand for convenient, comfort-oriented foods and snacks.
Corporate updates also include leadership changes and governance milestones, such as appointments to executive roles, information about the annual meeting of stockholders and recognition from external organizations. Examples include being named to Fast Company’s Brands That Matter list and being recognized by U.S. News & World Report, Newsweek and TIME magazine for workplace quality, responsibility and overall performance.
By following this HRL news page, readers can track how Hormel Foods communicates its strategy, manages its portfolio of more than 30 brands and navigates market conditions across its retail, foodservice and international businesses.
Hormel Foods Corporation (NYSE: HRL) appointed Katie Larson as senior vice president of human resources, effective October 10, 2022. With over 20 years at Hormel, Larson will lead the global HR function, continuing the company's commitment to a people-first strategy. Her experience includes roles in labor relations and diversity initiatives. Hormel Foods, based in Austin, Minnesota, generates over $11 billion in annual revenue and has been recognized as one of the World's Best Employers by Forbes.
Hormel Black Label is celebrating National Sausage Month by reviving its popular Little Sizzlers™ original pork sausages for a limited time this October. The sausages, beloved since 1968, will be available in a new 'stock up' 4-pound box for $19.99 at select Midwest retailers. Senior brand manager Samantha Hovland emphasized the nostalgic flavor and consumer demand behind this return. Hormel aims to cater to sausage lovers while maintaining the same recipe as before, encouraging fans to enjoy these classic sausages.
Hormel Foods Corporation (NYSE: HRL) announced a donation to support Convoy of Hope's disaster recovery efforts following Hurricane Ian. This contribution aids individuals affected by the hurricane in Florida. Hormel Foods has donated over $50 million in cash and products to nonprofits in the past five years, including $6.6 million for hunger relief in 2021. The partnership with Convoy of Hope spans seven years, focusing on disaster response and food insecurity.
Hormel Foods Corporation (NYSE: HRL) has declared a quarterly dividend of $0.26 per share, to be paid on November 15, 2022, for stockholders of record by October 17, 2022. This marks the 377th consecutive quarterly dividend since the company went public in 1928, demonstrating its long-standing commitment to returning value to shareholders. Hormel Foods operates globally, generating over $11 billion in annual revenue and is recognized as a member of the S&P 500 Dividend Aristocrats.
The makers of PLANTERS brand announce a new peanut-shaped packaging for PLANTERS Dry Roasted Peanuts, which uses 8% less plastic than the previous 16-ounce bottle, resulting in savings of approximately 220 tons of plastic annually. This update is part of the brand parent's ongoing sustainability initiatives by Hormel Foods. The new packaging aims to enhance product visibility, with support from in-store displays and online advertising. The peanuts are a good source of protein, fiber, and essential vitamins.
Hormel Foods released a national survey revealing consumer preferences for tailgating as excitement returns to pre-pandemic routines. Conducted by OnePoll with 5,000 respondents, the survey found that 42% prefer to arrive at tailgates 1-2 hours early and 72% feel food choices significantly impact the experience. Popular tailgating foods include burgers (66%) and hot dogs (56%), while nearly half of respondents believe failing to bring a dish could lead to exclusion. The findings highlight a growing market for quick and portable food solutions.
Hormel Foods Corporation (NYSE: HRL) unveiled 'The Inspired People Plaza' at its Austin, Minn. headquarters on Sept. 15, 2022. The plaza features a 25-foot-tall fork sculpture made from nearly 20,000 donated forks, symbolizing the company's commitment to nourishing communities. This project, initiated by company leaders nearly two years ago, showcases the significance of food in bringing people together. CEO Jim Snee emphasized the power of food to change lives. Hormel Foods, a global food company with over $11 billion in annual revenue, aims to inspire through this artistic tribute.
Justin's, a leader in healthy food products, announced a $15,000 match donation to Conscious Alliance during Hunger Action Month. This initiative, aimed at combating food insecurity, allows supporters to double their contributions, potentially raising a total of $30,000. Justin's, which has partnered with Conscious Alliance for nearly 15 years, hopes to raise awareness and encourage community involvement in addressing hunger. In 2021, Justin's donated over $15,000 and more than 4,100 meals to similar organizations. The collaboration reflects Justin's commitment to corporate social responsibility.
Hormel Foods reported record net sales of $3.0 billion for Q3 2022, marking a 6% increase year-over-year. The company achieved operating income of $291 million, a 40% rise, with a new operating margin of 9.6%.
Despite challenges like inflation and supply chain issues, diluted earnings per share rose 25% to $0.40. Hormel updated its full-year net sales guidance to between $12.2 billion and $12.8 billion, while earnings guidance was lowered to $1.78 to $1.85.
Hormel Foods Corporation (NYSE: HRL) has launched its 16th annual Global Impact Report, detailing progress on its ESG goals for fiscal 2021. Highlights include the introduction of the 20 By 30 Challenge, aiming to meet 20 sustainability goals by 2030, renewable energy initiatives, and extensive animal care audits. The company reported $8.5 million in donations, contributing to hunger relief and educational programs. Hormel has been recognized as a responsible corporate citizen, achieving various awards for its efforts in sustainability and community support.